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This account is for savers who want to help a family member buy their first home through the Lend a Hand mortgage scheme. The account can be held by up to two people.
You can help a family member get on the property ladder by using your savings.
Instead of them putting down a deposit, you can move 10% of the property purchase price into this savings account as security for three years against the Lend a Hand mortgage.
Your balance |
Gross (Annual Interest) |
AER (Annual Interest) |
---|---|---|
Your balance £1+ |
Gross (Annual Interest) 3.50% |
AER (Annual Interest) 3.50% |
This is an example of what the future balance might be, after interest has been paid:
Initial deposit |
Gross rate |
Balance after 36 months |
---|---|---|
Initial deposit £20,000 |
Gross rate 3.50% |
Balance after 36 months £22,174.35 |